System keynesian theory of the interest Rates the effects of an increase in the

System keynesian theory of the interest rates the

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System, keynesian theory of the interest Rates, the effects of an increase in the money supply, the IS-LM model Unit III The Policy Effects in IS-LM : factors that affect equilibrium income and the interest rates, The relative effectiveness of monetary and fiscal policy Macroeconomic management in labor and commodity market : keynesian aggregate demand Schedule, demand schedule with the classical theory of aggregate supply, contracted view of the labor market, labor supply with variability, effects of shifts in the aggregate supply schedule, keynesian vs classical Unit IV The Monetarist Counterrevolution : monetarist prepositions, the reformulation of the quantity theory of money, fiscal and monetary policy, unstable velocity and declining policy influence of monetarism Output, Inflation, and Unemployment : the natural rate theory, monetary policy, output and inflation, a keynesian view of the output-inflation trade-off, evolution of the natural rate concept Unit V New Classical Economics : the new classical position, broader view of new classical position, the keynesian counter critique Real business cycles and New Keynesian Economics : macroeconomic policy in a real business cycle model, new keynesian economics Unit VI Fiscal policy : the goals of macroeconomic policy and policy makers, fiscal policy controversies Optimal Monetary Policy : the policy making process, competing strategies, money vs interest rate targets in the presence of shocks, the relative merits of the two strategies, the evolution of federal reserve strategy, changes in central bank institutions Text Books: 1 . MACROECONOMIC THEORIES AND POLICIES by RICHARD T FROYEN, PEARSON References: 1 . EONOMICS by LIPSEY AND CHRYSTAL, OXFORD UNIVERSITY PRESS Credits:4 Through this course students should be able to Page:1/1 Print Date : 1/10/2018 10:06:10 PM
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